PE Firm Panda Lands Financing For Texas Power Plant

Law360, New York (July 18, 2012, 9:26 PM EDT) -- Panda Power Funds has secured financing for a 758-megawatt natural gas-fired power plant that will eventually supply power to 750,000 homes in central and north Texas and will have some commercial operations running by 2014, the private equity firm said Wednesday.

Construction on the plant, owned by affiliate Panda Temple Power LLC, will start immediately on a 250-acre site in Temple, Texas, led by a Siemens AG unit and Bechtel Corp., which began engineering work for the plant in February, the companies said Wednesday.

Panda Temple...
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